Filed Under:Markets, Commercial Lines

The Election's Impact on Insurance Issues

Updated 2:27 p.m.

President Barack Obama speaks during an election night party in Chicago. (AP Photo/Matt Rourke)
President Barack Obama speaks during an election night party in Chicago. (AP Photo/Matt Rourke)

Barack Obama was re-elected president of the United States in a close election that portends that current policies will be maintained.

This includes healthcare reform and implementation of the Dodd-Frank financial services reform law.

It also means that consolidated regulation of insurance companies which operate thrift holding companies will proceed. Implementation will likely be delayed beyond Jan. 1, and revisions in the proposed rules, which insurance companies universally oppose, are likely. The Fed might even postpone implementation until 2015; however, there ultimately will be consolidated regulation of insurance companies by the Federal Reserve Board, with or without congressional debate.

The election could have implications for the Terrorism Risk Insurance Act as well, which expires Dec. 31, 2014. Lehrer says, “Any sort of TRIA reauthorization faces a real struggle and I would doubt that the program will survive in its current form. That said, the very nature of the terrorist threat means that something, somewhere will probably continue to exist.”

Featured Video

Most Recent Videos

Video Library ››

Top Story

Hosting a Super Bowl 50 party? Watch out for these 5 risks

Follow these five tips to keep your guests and your home safe during your Super Bowl 50 party.

Top Story

Win big with these 7 food safety tips for your Super Bowl 50 party

Avoid food safety penalties at your Super Bowl party by following these seven tips.

More Resources


eNewsletter Sign Up

PropertyCasualty360 Daily eNews

Get P&C insurance news to stay ahead of the competition in one concise format - FREE. Sign Up Now!

Mobile Phone

Advertisement. Closing in 15 seconds.